Second time. Marriott International reported another massive customer data leak, the second in 18 months. The data was allegedly exposed via the rights of two employees at a franchisee. The incident began in mid-January and was identified at the end of February. The information that was compromised did not include passwords or banking data.
Not happening. Xerox has withdrawn its $35 billion hostile bid for HP Inc. due to market conditions. A decision that HP, fiercely opposed to the transaction, will not complain about. More generally, the major merger operations currently being negotiated are collapsing, such as the strategic review of Axalta Coating, which has just been abandoned. But not all of them, since apparently Asahi, which has obtained a conditional green light from the Australian antitrust authorities to buy the local assets of Anheuser-Busch Inbev, is expected to go through with the deal.
Azzaro and Mugler to L'Oréal. L'Oréal finalized the acquisition of the Mugler brands and Azzaro fragrances from Clarins, after the lifting of conditions precedent. The amount of the transaction has not been disclosed.
Italian-style. Brembo has taken 2.43% of the capital of its compatriot Pirelli in a "long-term" approach. The automotive supplier specializing in braking systems was keen to stress that its investment is not speculative. Pirelli had obviously not been informed of the operation, but its CEO sees it as a sign of confidence. Brembo had recently hinted that it was interested in external growth, perhaps even from a bigger player. The Bergamasque group weighs €2.2 billion on the stock market, while Pirelli is worth €3.3 billion.
The timetable is being respected. Fiat Chrysler Automobiles did not mention any delays in the ongoing merger process with Peugeot during a teleconference with the unions on Tuesday, the Italian metalworkers' union IMF said. However, the transalpine manufacturer confirmed that its industrial development plans will be disrupted by the coronavirus.
Bank dividends disappear. In the United Kingdom, HSBC, Barclays, Lloyds Banking Group, Standard Chartered and Royal Bank of Scotland have all suspended payment of the balance of their dividends, following the recommendations of the prudential authorities. In continental Europe, several banks did the same, but not all (UBS Group and Credit Suisse, for example, maintained their dividends). Some are still awaiting a decision.
In other news. News Corp sells its discount coupon business for $235m to Charlesbank Capital Partners. The New York court will investigate the dismissal of the leader of the slingshot of Amazon.com's logistics warehouse employees. Macy's and Raytheon will leave the S&P500 in favor of Otis and Carrier Global. Adidas is abandoning its share buyback program and Continental is abandoning its objectives.